Which of the following production functions do not exhibit constant returns to scale? A. F(K, L)= AK L¹-a B. F(K, L)= AK + BL C. F(K, L) = AKL D. F(K, L)= K(1-e-(L/K))
Which of the following production functions do not exhibit constant returns to scale? A. F(K, L)= AK L¹-a B. F(K, L)= AK + BL C. F(K, L) = AKL D. F(K, L)= K(1-e-(L/K))
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.5CE
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![1. Which of the following production functions do not exhibit constant returns to scale?
A. F(K, L) AK L¹-a
B. F(K, L)
AK + BL
C. F(K,L)=L
D. F(K,L) = K(1-e-(L/K))
E. None of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd6da7d2e-e768-46ed-ac69-842e1d3904d5%2Fbce101ee-a0d8-400f-b45e-f443efba6b22%2Fnfkkbzk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. Which of the following production functions do not exhibit constant returns to scale?
A. F(K, L) AK L¹-a
B. F(K, L)
AK + BL
C. F(K,L)=L
D. F(K,L) = K(1-e-(L/K))
E. None of the above
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